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2026-10-26 10:55:39 CICC published a report stating that CHINA TELECOM (00728.HK)'s third-quarter revenue and net profit were in line with the broker's expectations. Operating revenue for the first three quarters of this year fell 3.6% YoY to RMB380.1 billion; net profit declined 14.8% YoY to RMB26.2 billion. Excluding the impact of value-added tax, comparable net profit maintained solid YoY growth. Comparable net profit in the third quarter recorded solid YoY growth, while third-quarter operating revenue fell 3% YoY to RMB121.1 billion; net profit declined 14.7% YoY to RMB6.62 billion. The broker noted that comparable core service revenue remained broadly stable YoY, while smart business revenue became a future growth driver. Core service revenue for the first three quarters reached RMB359.3 billion and remained broadly stable YoY after excluding the impact of value-added tax. Among this, communications service revenue amounted to RMB313.1 billion. In the third quarter, mobile subscribers increased by a net 2.84 million users, while wireline broadband subscribers increased by a net 210,000 users. Smart business revenue reached RMB46.2 billion, with rapid growth in daily Token call volume. As AI applications become more widespread and expand the user base, smart business is expected to become a driver of revenue growth. The broker maintained its earnings forecasts unchanged. It maintained an Outperform rating and RMB7.3 TP for CHINA TELECOM (601728.SH) A shares, and maintained an Outperform rating and HKD6.3 TP for CHINA TELECOM H shares. (ha/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |